Posts Tagged ‘banking’

UBS May Slash 36,000 Positions Following Credit Suisse Takeover

The forced bail-in sale of Credit Suisse to UBS will lead to a staggering number of job cuts, ranging from 20% to 30%, which equates to a reduction of approximately 25,000 to 36,000 positions, as reported by SonntagsZeitung newspaper, quoting insiders. Earlier this month, UBS agreed to acquire its struggling competitor Credit Suisse for 3 billion Swiss francs ($3.3…

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‘The Enron of Germany’: Wirecard scandal casts a shadow on corporate governance

KEY POINTS The Wirecard accounting scandal has raised fresh questions about corporate governance, with some experts calling it the “Enron of Germany.” German financial regulator BaFin has come under fire for its handling of the situation, with the government now calling for regulatory reform. There are also questions about why EY, Wirecard’s auditor, didn’t pick…

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